Buy Crudeoil APR @ 8900 SL 8800 TGT 9050-9200. MCX - Kedia Advisory
Crudeoil
BUY CRUDEOIL APR @ 8900 SL 8800 TGT 9050-9200. MCX
Observations
Crudeoil trading range for the day is 8416-9834.
Crude oil gained as renewed Israeli strikes on Lebanon raised doubts about the durability of a fragile Middle East ceasefire.
Goldman Sachs trimmed its second-quarter 2026 forecasts for Brent and U.S. crude to $90 and $87 a barrel, respectively.
US crude output to fall next decade on sub – $70 Brent price forecast, EIA says
U.S. crude stocks rose while gasoline and distillate inventories fell last week, the EIA said.
Natural Gas
BUY NATURALGAS APR @ 250 SL 246 TGT 255-258. MCX
Observations
Naturalgas trading range for the day is 244.1-260.9.
Natural gas dropped pressured by a larger-than-expected storage build last week and mild weather forecasts.
The EIA reported a 50 Bcf injection into storage for the week ended April 3, above market expectations of a 46 Bcf build.
The increase compares with a 53 Bcf injection in the same week last year and a five-year average build of 13 Bcf.
Also, forecasts point to above-normal temperatures through at least April 24, keeping gas demand subdued over the next two weeks
